Initial metallurgical test results on San Nicolas sulphide samples have significantly increased the gold and silver recoveries for Panama City-based Goldmarca (GML-V). The company has initiated studies to confirm these results and their impact on the viability of the project.
Goldmarca can earn an 80% interest in the San Nicolas gold-silver mine, plant site, and heap leach operation, located 30 km north of Yanacocha, Peru. Previous open pit mining at San Nicolas extracted the oxide gold-silver ore and left the sulphide gold-silver zone due to its refractory nature.
The metallurgical test work was conducted at Hydrometallurgy Research Laboratories (HRL) in Brisbane, Australia. A unique Australian process technology to enhance metallurgical recovery of refractory sulphide gold-silver mineralization was used.
A comparison of the results from the Albion Process and baseline conventional cyanidation was provided. Overall gold recovery was found to be 70% in the recent testing — a significant increase from the 39% using conventional extraction; and silver recovery improved from 28% to 84%.
Goldmarca received a draft independent estimate of gold and silver resources at San Nicolas from Roscoe Postle earlier this year. However, finalization of the report was awaiting receipt of original copies of historical assay sheets from the owners of the property.
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